Question: i just need help solving the ratios. thank you! Rita and Rowdy Riverhawk began operations of their furniture repair shop (Furniture Refinishers, Incorporated) on Januar)

i just need help solving the ratios. thank you!  i just need help solving the ratios. thank you! Rita and
Rowdy Riverhawk began operations of their furniture repair shop (Furniture Refinishers, Incorporated)

Rita and Rowdy Riverhawk began operations of their furniture repair shop (Furniture Refinishers, Incorporated) on Januar) 1. 2019 . The annual reporting period ends December 31. The trial balance on January 1, 2024, was as follows: Transactions during 2024 follow: a. Sold 20,000 additional shares of capital stock for cash at $0.50 market value per share at the beginning of the year. b. Borrowed $20,000 cash on July 1, 2024, signing a one-year, 10 percent note payable. c. Purchased equipment for $17,000 cash on July 1,2020. d. Earned $133,000 in revenues for 2024 , including $59,000 on credit and the rest in cash. e. Incurred $37,000 in wages expense and $11,000 in miscellaneous expenses for 2024 , with $8,000 on credit and the rest paid with cash. f. Purchased additional small tools, $3.000 cash. g. Collected accounts receivable, $10,000. h. Paid accounts payable, $13,000, a. Sold 20,000 additional shares of capital stock for cash at $0.50 market value per share at the beginning of the year. b. Borrowed $20,000 cash on July 1, 2024, signing a one-year, 10 percent note payable. c. Purchased equipment for $17,000 cash on July 1,2020 . d. Earned $133,000 in revenues for 2024 , including $59,000 on credit and the rest in cash. e. Incurred $37,000 in wages expense and $11,000 in miscellaneous expenses for 2024 , with $8,000 on credit and the rest paid with cash. f. Purchased additional small tools, $3,000cash. g. Collected accounts recelvable, $10,000. h. Paid accounts payable, $13,000. i. Purchased $22,000 of supplies on account. J. Declared a cash dividend on December 1, $13,000. k. Received a $8,000 deposit on work to start January 15, 2025. I. Paid the dividends in U on December 31 . Data for adjusting entries: m. Supplies of $6.000 and small tools of $12.000 were counted on December 31, 2024 (debit Miscellaneous Expenses). n. Depreciation for 2024, $5.000. o. Interest accrued on notes payable (to be computed). p. Wages earned since the December 24 payroll but not yet paid, $4,000. q. Income tax expense was $4,000, payable in 2025. 7-a. Compute the current ratio for 2024. Note: Round your answer to 2 decimal places. 7-b. Compute the total asset turnover ratio for 2024. Note: Round your answer to 2 decimal places. 7.c. Compute the net profit margin ratio for 2024. Note: Enter your answer as a whole percentage (i.e. .95 should be entered as 95 ). Rita and Rowdy Riverhawk began operations of their furniture repair shop (Furniture Refinishers, Incorporated) on Januar) 1. 2019 . The annual reporting period ends December 31. The trial balance on January 1, 2024, was as follows: Transactions during 2024 follow: a. Sold 20,000 additional shares of capital stock for cash at $0.50 market value per share at the beginning of the year. b. Borrowed $20,000 cash on July 1, 2024, signing a one-year, 10 percent note payable. c. Purchased equipment for $17,000 cash on July 1,2020. d. Earned $133,000 in revenues for 2024 , including $59,000 on credit and the rest in cash. e. Incurred $37,000 in wages expense and $11,000 in miscellaneous expenses for 2024 , with $8,000 on credit and the rest paid with cash. f. Purchased additional small tools, $3.000 cash. g. Collected accounts receivable, $10,000. h. Paid accounts payable, $13,000, a. Sold 20,000 additional shares of capital stock for cash at $0.50 market value per share at the beginning of the year. b. Borrowed $20,000 cash on July 1, 2024, signing a one-year, 10 percent note payable. c. Purchased equipment for $17,000 cash on July 1,2020 . d. Earned $133,000 in revenues for 2024 , including $59,000 on credit and the rest in cash. e. Incurred $37,000 in wages expense and $11,000 in miscellaneous expenses for 2024 , with $8,000 on credit and the rest paid with cash. f. Purchased additional small tools, $3,000cash. g. Collected accounts recelvable, $10,000. h. Paid accounts payable, $13,000. i. Purchased $22,000 of supplies on account. J. Declared a cash dividend on December 1, $13,000. k. Received a $8,000 deposit on work to start January 15, 2025. I. Paid the dividends in U on December 31 . Data for adjusting entries: m. Supplies of $6.000 and small tools of $12.000 were counted on December 31, 2024 (debit Miscellaneous Expenses). n. Depreciation for 2024, $5.000. o. Interest accrued on notes payable (to be computed). p. Wages earned since the December 24 payroll but not yet paid, $4,000. q. Income tax expense was $4,000, payable in 2025. 7-a. Compute the current ratio for 2024. Note: Round your answer to 2 decimal places. 7-b. Compute the total asset turnover ratio for 2024. Note: Round your answer to 2 decimal places. 7.c. Compute the net profit margin ratio for 2024. Note: Enter your answer as a whole percentage (i.e. .95 should be entered as 95 )

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